Usman Salis
XRP hit $3.666 but now sits at $3.18 with trading volume down 42% to $4.04 billion as the market cools off after its massive run.
XRP's party might be winding down. After hitting $3.666 – the highest it's been in seven years – the token is now chilling around $3.18, down 8.44% for the week. It's not crashing or anything, just taking a breather after that insane rally.
The recent pump was pretty wild, especially since XRP completely missed the 2021 bull run. When Bitcoin stays steady like it has been, money usually flows into top altcoins, and XRP was one of the biggest winners. But now that initial hype is fading, and we're seeing some typical post-rally exhaustion.
According to CoinMarketCap, XRP found support at $2.96 and bounced back. Since then, it's been stuck between $3 and $3.24, just moving sideways while everyone figures out what's next.
XRP (Ripple) Trading Volume Tells the Story
Here's the kicker – XRP's 24-hour trading volume dropped 42% to $4.04 billion. That's huge. When volume tanks like this, it usually means traders are stepping back and waiting for the next big move.
Lower volume doesn't always mean bad news, but it does show that people are sitting on their hands right now. It's like everyone's waiting for something to happen – either a big breakout or a breakdown.
Part of what's keeping everyone nervous is the Fed meeting coming up. If they cut interest rates, crypto could pump again since lower rates mean more money flowing around. Risk-on assets like crypto love that kind of environment.
What's Next for XRP (Ripple) Price?
The thing is, XRP isn't showing real weakness – it's just tired after sprinting so hard. Think of it like a runner catching their breath before the next leg of the race. The token held that $2.96 support pretty well, which is actually encouraging.
This sideways action could be healthy. Instead of shooting straight up and then crashing down, XRP is building a base around these higher levels. That's usually good for future moves.
The broader crypto market is also taking a pause. Bitcoin's been weak lately, which always affects altcoins. But the fundamentals that drove XRP's rally haven't changed – the market just needs time to digest those gains.
Next few days could be key. If the Fed delivers rate cuts and Bitcoin starts moving up again, XRP could easily break out of this $3-$3.24 range and keep climbing. But if sentiment turns sour, we might test that $2.96 support again.
Either way, the 42% volume drop shows XRP is in waiting mode. Sometimes in crypto, these quiet periods are just as important as the explosive ones. The calm before the next storm, you know?
Usman Salis
